Chrysler brings back the Dodge Dart

NEW YORK (CNNMoney) -- Chrysler Group unveiled its much-needed new small car, the Dodge Dart small car at the Detroit auto show Monday. The car is expected to go on sale later this year at prices starting at about $16,000. Official fuel economy estimates aren't available, yet.

The Dart is based on engineering shared with Italy's Fiat, Chrysler's parent company.

It will be built in Chrysler's Belvidere, Ill., factory. It will go on sale with a base price of $15,995.

Chrysler Group CEO Sergio Marchionne conceded at a press conference later Monday that the company won't make a lot of money at that price for the stripped down model. But he's betting that buyers drawn in by the low price will add options. "You start shopping there and by the time you finish, maybe you'll pay more," he said.

In June, the U.S. Treasury Department sold its last remaining stake in Chrysler to Fiat. Providing Chrysler with a small, fuel-efficient car based on Fiat engineering was one of Treasury's requirements before the Italian automaker could take its majority stake in the company.